ABI: new guidance on extended warranties and more
by Gill Montia
The Association of British Insurers (ABI) has published new guidance on Extended Warranties, Guaranteed Asset Protection insurance and service contracts.
The Association is hopeful that insurers and retailers will do more to help consumers understand the benefits and exclusions of all three forms of insurance, once they have swatted up on the new Good Practice Guidance for Providers.
The voluntary guidance aims to ensure customers are able to choose the right product; the ABI’s director of general insurance and health, Nick Starling, sums up: “We want … consumers to be confident they have taken out the right insurance product for their needs and that they fully understand the benefits and limitations of the product they choose.”